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Developing a Product You Can Sell Online - Part 1
Developing a Product You Can Sell Online - Part 1
by Rick Hendershot, Linknet
Advertising Network
Finding a product you can sell online is not always as easy as
it sounds. Even if you have a successful offline business, the chances are
better than 50/50 that all of your product(s) will NOT be suitable for online
sales. Some may be; but many most certainly will not be. Your first job is to
figure out which ones will work in an online environment. Here are some of the
most important considerations.
The importance of being Recognized
Simple, easy to understand products like "books" or "sporting
goods" or "electronic products" have a built-in advantage, because virtually
everybody knows what they are. That means they have a ready-made market.
But it does NOT mean that easily recognized products like this
will always be more successful in your business ventures —
online or offline. The success of any business venture depends on being
able to find a product that is recognized by a specific target market —
what we will call a TARGET NICHE. And often that means NOT
trying to reach a large over-crowded, highly competitive market segment.
Finding a Target Niche
When you stop and think about it, the reasons for this are
fairly obvious. Trying to reach a large,
highly competitive market segment takes resources that you probably do not
have — advertising budgets and large inventories, for instance. And you will be going head to head with the big boys who DO have those resources.
So does that leave you with the "dregs" — the unprofitable
markets that nobody else wants?
Definitely not. Let's consider some of these "dregs"...
Almost everybody can visualize what you mean by "Personalized
Golf Balls", but most will have problems with "Duralex Floorguard Graphics",
or "Medical Transfer Pipettes."
This fact presents the pipette marketer with both a challenge
and an opportunity. There are relatively few people who want your pipettes.
But if you can actually isolate (and reach) these people, then you probably
stand a better chance of selling something obscure like this (both online and
offline) than you do a more common thing like "personalized golf balls".
The reason is pretty clear, isn't it? While the market is
relatively small, the number of suppliers will be even smaller. And there is a
good chance these suppliers will not be nearly as sharp and net savvy as the
big boys who go after the big markets. That gives you a perfect opportunity to
become a major player in your category. In fact the web is the perfect
place to focus your attentions, because you can become a major player in a
matter of weeks, and for a few hundred dollars.
Rick Hendershot is a writer and internet publisher. See the
Linknet Marketing
Resource Library.
Linknet Promotions provides online promotional opportunities.For the most current Linknet Promotions products see
Linknet Promotions.
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